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Showing 6 of 6 results by Yougu
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Board Beginners & Help
Re: Can a soft fork result in a permanent split of the blockchain?
by
Yougu
on 21/12/2018, 08:22:51 UTC
Thanks squatter!
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Topic
Board Beginners & Help
Merits 2 from 2 users
Can a soft fork result in a permanent split of the blockchain?
by
Yougu
on 20/12/2018, 01:09:15 UTC
⭐ Merited by mu_enrico (1) ,Jet Cash (1)
Taking a look at soft forks I understand that soft forks are initiated by miners upgrading to a stricter set of rules. Blocks generated by miners operating under the new rules are recognized by nodes running under the old set of rules.

If the a majority of miners switches to the new (stricter) rules, the blockchain will only consist of blocks generated by them at some point. This is due to the fact, that miners running under the new set of rules reject blocks mined under the old set of rules, but nodes operating under the old set accept their blocks.

If only a minority of miners switches to the new rules, there is the risk that the blockchain ultimately forks. We end up in a situation similar to a hard fork. Miners running on the new software will only recognize blocks mined by miners who have updated and reject blocks that have been mined by miners running under the old set of rules. Since miners who have updated their software are in the minority, their chain is not the longest chain. It will therefore be disregarded by miners operating under the old set of rules which results in a permanent split of the blockchain.

Is that understanding of a soft fork correct?
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Topic
Board Securities
Re: Do you think all ICO are securities ?
by
Yougu
on 19/12/2018, 08:36:55 UTC
There is no general answer to this question. Each jurisdiction has its own view on whether tokens offered in an ICO are securities or some other kind of financial instrument. Certain tokens might not even be regulated in some jurisdictions. While the SEC dominates the discussions at the moment, there are good reasons to take a look at regulators in other jurisdictions.

There is one more thing you should consider. Just because you are compliant in one jurisdiction, it does not mean that you can sell your tokens compliantly in other jurisdictions. Let's say your token is not regulated in Singapore, but you intend to sell it to investors from the US, you must comply with US regulations. The same is true for any other jurisdiction in which you target investors.
Post
Topic
Board Beginners & Help
Re: 51 percent attack and blocktime
by
Yougu
on 18/12/2018, 05:28:22 UTC
Thanks BreMaster, but I guess I still don't get it completely. For newly mined blocks I understand why the aggregation of 51 percent of hashing power helps the attacker.

If the attacker decides to fork much earlier, let's say 2,500 blocks earlier, he has to catch up and eventually overtake the main chain. The attacker cannot do so however, because the difficulty must be adjusted if he mines blocks too fast. So, even if 2016 blocks are mined every 2 weeks on average, this applies to both chains. So rather than catching up with the main chain, the attacker will fight a loosing battle, since the other chain eventually grows as fast as his.

I know this is only a theoretical problem, but I was wondering whether the blocktime itself (or how you want to call it) imposes limitations to the 51 percent attack. Thanks!


Post
Topic
Board Beginners & Help
Merits 2 from 2 users
51 percent attack and blocktime
by
Yougu
on 18/12/2018, 03:48:14 UTC
⭐ Merited by o_e_l_e_o (1) ,xtraelv (1)
Hey everyone,

I've been looking into 51 percent attacks recently and was wondering about the limitations. In a 51 percent attack an attacker tries to generate an alternate chain faster than the honest chain. To convince the network that his chain is the correct, he must ultimately have the longest chain.

The blocktime for each chain is 10 min per block. If blocks are created too fast, the difficulty is adjusted.

Given these limitations how is it possible to build an alternate chain that grows much faster than the honest chain? If my understanding is correct, nodes also check whether the difficulty target has been adjusted correctly. So if the block time is too short in the long run, the newly mined blocks might not been recognized by the network.

Is that correct or do I miss something? Thanks!

Post
Topic
Board Altcoins (Deutsch)
Re: ICO-Regulierung Deutschland / e-Geld / BAFIN
by
Yougu
on 19/12/2017, 13:12:59 UTC
Quote from: bitcoincidence on October 23, 2017, 11:01:05 AM
Ich komm ja eher aus der Aktienecke und ich muss sagen, dass ich das ICO-Prinzip für ganz grundsätzlich fehlkonstruiert halte bzw. dass es ich vielleicht in eine ganz falsche Richtung entwickelt hat, wo es auch gar nicht hingehört.

Bei Aktien erwerbe ich in der Regel einen echten Anteil an der Firma und habe damit auch  Anteil am zukünftigen Erfolg der Firma.

Bei ICOs werde ich mit Coins abgespeist, die im besten Fall noch irgendwie (manchmal auch arg konstruiert) im geplanten Business eine Rolle spielen, aber theoretisch auch jederzeit in die Bedeutungslosigkeit befördert werden können bzw. die durch Coins finanzierte Firma kann sich - ohne dass ich daran teilhabe - auch auflösen/verkaufen/fusionieren bzw. ihre Patente abstossen - dann sitze ich auf meinen dann auf jedem Fall wertlosen Coins und andere machen den Reibach.

Vielleicht habe ich da auch was falsch verstanden - aber der Vergleich der weiter oben zum Casino gezogen wird passt vielleicht einfach besser als alle Vergleiche zu Aktien bzw. echten Startups - und Glücksspiel ist fast überall staatlich reglementiert, was Steuern einbringt, die uns allen mehr Nutzen, als wenn man dieses schöne Geschäft der Mafia überlässt (was auch vorkommt).


Ich denke auch, dass ICOs in vielen Fällen fehlkonstruiert sind. Häufig geben die Initiatoren einfach utility tokens aus, die im Rahmen des Geschäftsmodells als Zahlungsmittel verwendet werden sollen. Da diese Tokens als Vorauszahlung zu sehen sind, kommt ein Unternehmen nur dann an frisches Geld, wenn die Tokens erneut verkauft oder gehandelt werden.

Grundsätzlich denke ich aber, dass ICOs ihre Daseinsberechtigung haben. Den besten Beweis hierfür liefern Crowdfunding Plattformen, die letztendlich nichts anderes machen als ICOs. Verkauft wird auch hier eine Idee. Ob die Idee umgesetzt wird oder nicht ist ebenfalls nicht sicher. ICOs haben immerhin der Vorteil, dass ein Exit in den meisten Fällen möglich ist.